Vertical Turbine Pump Industry Analysis in North America Eyes US$ 754.4 Million Valuation by 2033, Riding on a 4.2% CAGR | Future Market Insights, Inc.
Increasing Demand for Water Management Solutions and Infrastructure Development Spurs the Vertical Turbine Pump Industry. North America is in the best position to lead the market. It is attributed to the strong presence of manufacturers including, Pentair, Flowserve Corporation and others.
NEWARK, Del, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The vertical turbine pump industry analysis in North America is forecasted to advance from *US$ 503.3 million* in 2023 to *US$ 754.4 million* by 2033. From 2023 to 2033, vertical turbine pump sales in North America are projected to record a *CAGR of 4.2%*.The 500 to 2000 m head type segment will dominate North America's vertical turbine pump industry through 2033. The 500 to 2000 m head type segment is likely to hold a share of 54.7% by 2023. The multi-stage segment is set to thrive at a slow CAGR of 3.7% between 2203 and 2033.
The market in North America is a vital segment within the broader pump industry, playing a pivotal role in efficiently lifting water and other fluids from deep sources. Vertical turbine pumps are extensively utilized across diverse sectors, including agriculture, industrial processes, and municipal water supply.
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As North America focuses on upgrading and expanding its infrastructure, especially in water supply and management, the demand for reliable pumping solutions increases. Vertical turbine pumps have become instrumental in meeting the needs of various projects, contributing to the projected market dominance for vertical turbine pumps in North America.
As agriculture and industrial sectors witness expansion, there is a heightened need for efficient water management solutions, including the adoption of vertical turbine pumps in North America. The versatility of vertical turbine pumps in applications such as water transfer, pressure boosting, and water supply positions them as a crucial component in sustaining growth across North America.
Due to economic downturns or uncertainty, reduced capital expenditures by industries impact the demand for vertical turbine pumps in North America. The market expansion for vertical turbine pumps in North America faces obstacles due to rapid technological advancements, including the creation of alternative pumping technologies.
Projects related to infrastructure, including industrial, agricultural, and water supply systems, directly impact the demand for vertical turbine pumps. The cuts or delays in infrastructure spending hamper the adoption of conventional vertical turbine pumps in North America.
*Key Takeaways from the Vertical Turbine Pump Industry Analysis in North America Report:*
· The North America vertical turbine pump industry is projected to thrive at *4.2% CAGR* through 2033.
· By head type, 500 to 2000 m is expected to have a total valuation of *US$ 528.1 million by* 2033.
· By stages, the multi-stage segment is set to hold a market share of *86.8%* in 2023.
· The United States vertical turbine pump industry is to register a *CAGR of 4.1%* from 2023 to 2033.
· The Southwest United States value is anticipated to *reach US$ 113.0 million* by 2033.
· Northeast United States sales of vertical turbine pumps to register a *CAGR of 5.1%* from 2023 to 2033.
· Ontario's vertical turbine pump industry is projected to attain a valuation of *US$ 92.5 million* by 2033.
· By end use, the mining segment is set to exhibit a *CAGR of 3.5%* from 2023 to 2033.
· The demand for vertical turbine pumps in Canada is anticipated to develop at a *4.3% CAGR* from 2023 to 2033.*"The comprehensive market research study on the vertical turbine pump industry analysis in North America, conducted under astute guidance, reveals a nuanced understanding of market trends and dynamics. The study illuminates key factors shaping the industry landscape, including market size, growth prospects, and competitive insights. Our research underscores the pivotal role of technological advancements and environmental considerations in driving the evolution of the vertical turbine pump industry in North America."* - says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
* Scope of Report:*
*Attribute* Details
*Estimated Valuation (2023)* US$ 503.3 million
*Projected Valuation (2033)* US$ 754.4 million
*Anticipated CAGR (2023 to 2033)* 4.2 %
*Historical Analysis of Vertical Turbine Pump in North America* 2018 to 2023
*Demand Forecast for Vertical Turbine Pump in North America* 2023 to 2033
*Quantitative Units* Revenue in US$ million and CAGR from 2023 to 2033
*Report Coverage* Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
*Key Countries Analyzed While Studying Opportunities in Vertical Turbine Pumps in North America* · United States
· Northeast USA
· Southeast USA
· Southwest USA
· Midwest USA
· West USA
· Canada
· Alberta
· British Columbia
· Quebec
· Ontario
· Rest of Canada
*Key Companies Profiled* · Trillium Flow Technologies
· Peerless Pumps
· Grundfos
· Flowserve
· Sulzer
· Ruhrpumpen
· Xylem
· KBL
· Taco Inc
· Pentair
· ITT INC.
· KSB SE & Co. KGaA
· Ebara Corporation
· The Weir Group PLC
· Wilo
· Tsurumi Manufacturing Co., Ltd.
*Competitive Landscape:*
The leading manufacturers of vertical turbine pumps in North America are concentrating on developing their technology to offer customers affordable options. To satisfy customer demand, they are spending on creating new vertical turbine pump products and additional innovation for the ones they already have. The industry is characterized by fierce competition due to the large number of critical suppliers of vertical turbine pumps in North America.
*Novel Developments:*
· In 2022, Xylem added new pumps to its collection, including the e-MP multistage ring section pumps, e-XC single-stage double suction centrifugal pumps, and the bigger vertical turbine pump The vertical turbine pump is an addition to the company's current vertical turbine product line, able to handle up to 50,000 GPM for large industrial fluid requirements.
· In 2018, KSB Group Extended its product Portfolio by introducing a comprehensive program of vertical turbine pumps in the global market.
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*Vertical Turbine Pump Industry Analysis in North America Segmentation:*
*By Head Type:*
· Up to 500 m
· 500 to 2000 m
· 2000 m and Above*By Material Type:*
· Ductile Iron Pump
· Stainless Steel Pump
· Bronze
· Cast Iron
*By Stages:*
· Single Stage
· Multi-Stage
*By Power Rating:*
· By Low Power (Up to 1500 Hp)
· Medium Power (1500 to 4000 Hp)
· High Power (4000 Hp and Above)*By End Use:*
· Residential
· Commercial
· Agriculture
· Firefighting
· Municipal
· Industrial
· Chemicals
· Pharmaceuticals
· Oil and Gas
· Power Generation
· Cement
· Mining
· Others*By Nations:*
· United States
· Canada
*Authored By:*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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